Executive summary

• An executive summary, or management

summary, It usually contains a brief statement
of the problem or proposal covered in the
major document(s), background information,
concise analysis and main conclusions.
• It is intended as an aid to decision-making by
managers and has been described as the most
important part of a business plan.
 Importance
Executive summaries are important as a
communication tool in both academia and
business.
• "An executive summary is an initial interaction
between the writers of the report and their
target readers: decision makers, potential
customers, and/or peers.
• A business leader’s decision to continue
reading a certain report often depends on the
impression the executive summary gives."
 Structure

• be approximately 5-10% of the length of the main report

• be written in language appropriate for the target audience
• consist of short, concise paragraphs
• begin with a summary
• be written in the same order as the main report
• only include material present in the main report
• make recommendations
• provide a justification
• have a conclusion
• be readable separately from the main report
• sometimes summarize more than one document
 Mission statement

• A mission statement is a short statement of

an organization's purpose, identifying the
scope of its operations:
• what kind of product or service it provides, its
primary customers or market, and its
geographical region of operation. 
 Mission statement

• A mission statement is not simply a description of

an organization by an external party, but an
expression, made by its leaders, of their desires
and intent for the organization.
• The purpose of a mission statement is to focus
and direct the organization itself.
• It communicates primarily to the people who
make up the organization—its members or
employees—giving them a shared understanding
of the organization's intended direction.
 Mission statement components
•  A commercial mission statement consists of
three essential components:
• Key market: Who is your target client or
customer (generalize if needed)?
• Contribution: What product or service do you
provide to that client?
• Distinction: What makes your product or
service unique, so that the client would
choose you?
 Key markets
• Key markets are markets that are essential for
extending a company's market position,
its economic growth and its globalization in
a sustainable way.
• The concept is necessarily not a sharp one,
rather, it may depend on company specific
cost effectiveness or profitability thresholds.
• Key markets may also only exist in a
company's vision statement as projections of
future profitability in emerging markets.
 Purpose of vision statement

• The sole purpose of a mission statement is to

serve as your company's goal/agenda, it
outlines clearly what the goal of the company
is. 
• Some generic examples of mission statements
would be, "To provide the best service
possible within the banking sector for our
customers." or
• "To provide the best experience for all of our
customers."
 Advantages of Mission statement

• Provides direction: Mission statements are a

way to direct a business into the right path, it
plays a part in helping the business make
better decisions which can be beneficial to
them.
• Clear purpose: Having a clear purpose can
remove any potential ambiguities that can
surround the existence of a business.
 Disadvantages of vision statement

• Unrealistic: In most cases, mission statements turn out

to be unrealistic and far too optimistic. An unrealistic
mission statement can also affect the performance
and morale of the employees within the workplace.
• Poor decisions could be made in an attempt to achieve
this goal which has the potential to harm the business
and be seen as a waste of both time and resources.
• Waste of time and resources: Mission statements
require planning, this takes time and effort for those who
are responsible for creating the mission statement.
 Design of the vision statement

• According to Forbes, the following questions must be answered

in the mission statement.
• "What do we do?" The mission statement should clearly outline
the main purpose of the organization, and what they do.
• "How do we do it?" It should also mention how you plan on
achieving the mission statement.
• "Whom do we do it for?" The audience of the mission
statement should be clearly stated within the mission
statement.
• "What value are we bringing?" The benefits and values of the
mission statement should be clearly outlined. When designing
your mission statement, it should be very clear to the audience
what the purpose of it is.